Tuesday, November 29, 2011

What Will The Collapse Look Like?

This is a really hard question.  I think the most accurate answer is nobody really knows.  It seems reasonable to expect bank holidays, and mandatory limits on withdrawals.  Add in travel restrictions to keep the common folks from fleeing their place in the fire for the frying pan of the UK or the US.   The Telegraph reported over the weekend that the UK's Foreign Office is considering how to get ex-pats home.  They anticipate riots and possibly thousands of UK citizens stranded without access to their money.   

British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain.

A friend in the UK (years ago) told me they referred to spending the new currency as "euronating".  Perhaps we should borrow the term and refer to their troubles as the central state euronating on the currency ...

Edit 11/30 2100EST - that error-inserting gremlin was bothering me all day. 

No comments:

Post a Comment